Cahya Mata Sarawak Berhad Q2 2012 Profits Surge 58% Compared To Q2 2011

Sarawak (Kuching) – Wednesday, August 29, 2012,– Cahya Mata Sarawak Berhad (CMSB – 2852), the State’s leading infrastructure facilitator and growth catalyst today posted revenue of RM292.20 million for Q2 2012, a growth of 13% compared to the same quarter last year. The increase was attributed to the Manufacturing and Services Divisions. Quarter-on-quarter revenue for its Manufacturing Division was up 25% from RM111.68 million to RM139.68 million and its Services Division was up 256% from RM5.32 million to RM18.96 million. The Group’s pre-tax profits of RM70.11 million for the current quarter were 58% higher than the preceding year’s corresponding quarter.

Year-on-year, the Group’s pre-tax profits of RM120.01 million for the current six-month period were 37% higher. The Construction & Road Maintenance Division registered a 32% jump in pre-tax profits to RM29.46 million for the six months ended 30 June 2012 from RM22.27 million for the same period in 2011 (excluding the gain on acquisition of subsidiaries of RM11.43 million) whilst the Property Development Division, which registered a loss in the previous corresponding period, registered a pre-tax profit of RM22.09 million from both land sales and property development activities. Dato’ Richard Curtis, Group Managing Director, Cahya Mata Sarawak said, “We are very pleased with the Q2 figures as they are further testament to the Group’s sound business models, the efforts of all our staff and our ability to take advantage of opportunities afforded by Sarawak’s growing economy. These are all contributing factors that account for CMSB’s RM522.54 million revenue for the first six months of 2012, an increase of 8%, compared to the RM484.33 million posted in the first six months of 2011.

Also, the Board of CMSB has today shown its confidence in CMSB’s ability to sustain this strong performance, by declaring an interim dividend of 5 sen per share in respect of the financial year ending 31 December 2012.” CMSB’s trend of resurgence and revitalisation has carried through into its share price which has been recently trading at its 52 week high. With its core construction materials’ businesses, spearheaded by cement manufacturing, fully prepared to continue leveraging on the Sarawak growth story; and with CMSB’s confirmed participation in the Sarawak Corridor of Renewable Energy (SCORE) through its Samalaju township development, its provision of workers’ camps and its 20% stake in OM Holdings Ltd’s 575,000mtpa ferroalloys smelter scheduled to come into production during 2014, Cahya Mata Sarawak is poised to sustain if not exceed the levels achieved.